Bank (money supply) Essay Example | Topics and Well Written Essays - 2500 words

Bank (money supply) - Essay Example Any government has the power and responsibility to regulate the economy of a country and not only does it regulate the economy, it has a vital role to ensure that the economic condition remains stable. It is the responsibility of the government to ensure that all the aspects of economy maintain a stable level so that the country can grow and expand. Government regulates many things in an economy including inflation, exports and imports, prices of many vital commodities, and many important economic aspects. For example Government of England has entrusted the job of determining the monetary policy, in the hands of Bank of England. Bank of England looks into many other big issues. One of the most important issues is that of ensuring monetary stability in the economy, which can be achieved through a combination of stable prices of goods and services across the economy coupled with a low inflation level and level of confidence of the investors in the currency of the country. The Bank come s out with the monetary policy in order to ensure a certain key objectives like, delivering price stability with a low inflation level coupled with an objective to support the Government's economic objectives of growth and employment. Price stability is taken care of, by the Government's usual inflation target of 2%. There is a need to contemplate the crucial and critical role played by price stability in achieving the aforesaid economic stability, and in providing just the right conditions for a sustainable and longer living growth in output and employment. Chancellor of the Exchequer announces the Government's inflation target every year in the annual Budget statement. Though The 1998 Bank of England Act enables it to set interest rates independently, however, The Bank does hold accountability to the parliament and the wider public, which can not be refrained from. The legislation provides the government the power to instruct the bank on the interest rates issues for a limited per iod of time during emergency, for the sake of national interests. (How Monetary Policy Works) A target of 2% does in no way mean that inflation will be held at this rate constantly. That would be neither possible nor in any way desirable. Interest rates would be changing all the times, causing unnecessary volatility in the economy. Even then it would neither be possible nor feasible to keep inflation at any predetermined level, say 2% in each and every month continuously. Instead, the committee aims to set interest rates so that inflation can be brought back to target within a reasonable and imaginable span of time without creating undue instability and volatility in the economy. The government is also entrusted with the job of regulating property and commodity prices. To have a look into this in detail, we may need to analyze the factors that are generally responsibly for a rise in property prices. Before buying a house property, any buyer's first job is to assess the price of the property depending on the location, as location as a non-economic factor plays the biggest role in determining property prices all over the

Managing Employee Relations in Contemporary Organisations Essay - 2

Managing Employee Relations in Contemporary Organisations - Essay Example 201). The modern approach to employee relations is people management. The employees to the organization were employed based on their skill and as part of a team that would meet the requirements of the organization (Kessler and Purcell, 2003, p. 28). Human management as a style that is used by the ACME organization concentrates on the skills that an individual brings into the company (Legge, 2005, p.102). Prior to securing a job with the company, it is important that what the employee brings to the table is analyzed and this is part of the enrolment (Purcell, 1987, p. 29). The company has stringent policies on which employees it employs, a fact that is expressed in different settings such as when referring to family, (Legge, 1995, p. 99), i.e. potentially some members may feel offended if they cannot get their friends/family in but so be it. We will never compromise the arrangement that we will go for the best person for the job. But with 500 people there are going to be individuals, but relatively few, we wouldn't recruit again. If one of these few recommended friends/family we would look, but look very carefully. The company has also adopted a structure that is based on personal and team responsibilities within the organization, which differ from any trade union system of operation. The organisation’s policy on performance and pay states that, If somebody is not performing they get told about it. We have annual appraisal and salary is directly linked to contribution across a number of factors, so people get a message both financially and otherwise across the table from the manager at the appraisal, if not at other times of the year, which does not include any responsibilities to any party or individual outside the organisation. The system used is analytical based on the quality an individual brings to the company (Salamom, 2000, p. 291). The approach to management takes on a modern management style that gives employees roles, responsibilities as well as a supervisor to answer to in the course of their employment. The approach means that individual contributions to the company are looked into during the running of ACME. The management considers the goals set by management, in terms of economics, finances, growth, marketing and advertising among others (Williams and Adam-Smith, 2009, p. 102). Although the system makes use of preset performance requirements, the company ensures that it appreciates the efforts put in by the employees at any one given time in every position as it is stated by the company as directly linked to a number of factors contributing to outcomes in the financial and other concepts. 2. Critically discuss why they use this approach (cite evidence from both the case study and academic literature to justify this discussion). The performance of employees in the organisation is an important goal and objective driven element of analysis. The chosen employee management style in relations allows the management to keep t rack of the growth of the organisation on an overall state as well as in the personal concept. The style emphasizes the fact that individual workers are the unit by which the ACME organisation operates. By choosing the individualistic approach to employee relations, the organisation